Russian President Vladimir Putin‘s trip to India today is anticipated to result in a “very, very significant meeting” with Prime Minister Narendra Modi, which could enhance stability and play a role in shaping the emerging global landscape, stated Dr. Ranjeet Mehta, CEO & Secretary General of the PHD Chamber of Commerce and Industry (PHDCCI) on Thursday.

Dr. Mehta remarked that this forthcoming dialogue holds considerable importance for both countries and might provide a fresh impetus to India–Russia economic collaboration.

He underscored that the meeting has the capacity to boost bilateral trade and investment while reinforcing the enduring strategic alliance between the two nations.

“The discourse between Prime Minister Narendra Modi and President Putin will fortify stability and the new global framework,” he told.

“There are three primary factors that highlight the significance of this meeting. Firstly, the investment prospects for both industries. Secondly, India and Russia possess a robust and well-established strategic partnership,” Mehta elaborated.

He noted that this visit presents a chance to broaden cooperation beyond conventional sectors.

As per him, industries in both nations could discover new pathways for collaboration while looking to diversify their economic interactions.

“This meeting provides a platform to expand into a variety of other areas. It also allows for the alignment of economic priorities between these two countries and opens up avenues for new opportunities, particularly in the domains of defense, hydrocarbons, energy security, and pharmaceuticals,” Mehta elaborated.

Looking forward, Dr. Mehta mentioned that Russia might consider increasing its imports from India, especially in the pharmaceutical sector.

He highlighted that India, being one of the world’s foremost generic drug producers and a vital center for pharmaceuticals, has significant potential to enhance its footprint in the Russian market.

“India and Russia have a relationship founded not only on stability but also on deep historical shared interests,” he remarked.

“Enhanced trade connections and deeper energy collaboration will foster growth for both economies in a rapidly shifting geopolitical landscape,” Mehta concluded.